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The Economic Situation

Published online by Cambridge University Press:  26 March 2020

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Extract

The general trend of the economy has changed little in the past two months. There is further evidence of recovery abroad. At home, expansion continues, with industrial production rising quite rapidly. Prices have remained stable and the foreign payments position, helped by the recovery in the overseas sterling area's balance, remains favourable.

Type
Articles
Information
National Institute Economic Review , Volume 5 , September 1959 , pp. 4 - 17
Copyright
Copyright © 1959 National Institute of Economic and Social Research

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References

note (1) page 5 The estimate of gross domestic product for the first quarter arrived at by summing national expenditure minus imports is considerably lower than the estimate arrived at on the basis of trends in output, thus leaving an abnormally large statistical discrepancy (see Appendix table 1). Too low an estimate of investment in stocks is the most likely explanation. It is the item of demand that is both most volatile and hardest to estimate.

note (1) page 7 See Appendix, table 11.

note (1) page 10 See Appendix table 5.

note (2) page 10 A more detailed analysis of previous changes in the share in the export market for manufactures, with special reference to the United States share, was given in an article on ‘The Dollar’ in the National Institute Economic Review, no. 2, pages 18-22.

note (1) page 11 In the first quarter United States' exports of manufactures to western Europe, (including Britain) were 5 per cent lower than a year earlier, while those of Britain, France, Germany and Japan together were about 3 per cent higher.

note (2) page 11 See ‘Trends in exports of manufactures during 1958 and part of 1959’, Board of Trade Journal, 4th September, 1959.

note (1) page 15 National Institute Economic Review, No. 2, March 1959.